All Forum Posts by: Spencer Sutton

New Podcast Episode - Finding Off-Market Deals in Birmingham

Every investor will tell you that finding great deals in Birmingham has become increasingly difficult over the past several years. In today’s market, you need an advantage. That’s why we’re excited to introduce you to our solution. 

Listen in as we interview Gray Hall, our Director of Brokerage, about how we’re providing off-market deals to investors like you…and how you can get on our exclusive list.

Hey Adam, welcome to the BP family...and to Birmingham!

Question - when you mention 'financing,' are you referring to buying rentals or something else? 

I wasn't 100% sure about that. If it's buying houses, you can always find the money if you have a good plan. There is a lot of cash on the sideline and people who want to earn a better return than current market rates. I would explore a jv deal with someone...you bring the deal and sweat equity and the other person provides the capital.

I have a friend (@Bruce Glenn) who does this a lot. You can find out more about him on his website flippinbruce. 

You can also check out The Birmingham Real Estate Investor podcast to hear from other local investors. They are very open to share big mistakes they've made in the past...this will help you better understand some of the pitfalls to avoid in your investing venture. 

And of course, the BP forums are a great place to start by reading others' thoughts about Birmingham. You can also go up to 'network' and find any kind of real estate professional here in Birmingham to connect with.

I hope that helps - good luck!!

Want to hear from a Birmingham rehab pro? 

In this episode of The Birmingham Real Estate Investor, we talk to Jeff Shadrick. Jeff has rehabbed hundreds of homes in the Birmingham area and I've seen his work...he produces a great home for investors. 

Jeff and Jonathan Mednick are partners in REITrader.com and Jeff owns BuildPro Construction. Over the years Jeff has provided turnkey properties for investors around the country. Tune in and learn from this Birmingham pro!

You can listen HERE.

We had the opportunity to interview John Breaux who has bought over 5,000 homes in Atlanta as an acquisition analyst for a large institutional investor. 

John shares openly about what is going on in the Atlanta market, what the big boys are buying, and how you can take advantage of their single-family appetite. 

Check out the episode HERE. 

I love all the football references. Roll Tide!

I have been an investor in Birmingham since 2003 - wholesale and rentals. Additionally, our company has managed SFR in Birmingham since 2008. We know a lot of investors who are pleased with their Birmingham investments in terms of both cash flow and appreciation. Your cash flow opportunities will increase with your risk tolerance in the C class areas...and in Birmingham, so much of it is street to street. It's difficult to classify an entire area as good or not.

I would check out the podcast The Birmingham Real Estate Investor...a lot of great local investors and pros have been interviewed who give their insight into the market. You could also reach out to some of them for additional thoughts.

I will say the competition for SFR in Birmingham has skyrocketed with the growth of institutional buyers in the city.

I hope this helps...Best of luck to you!

Hey @Javontai Shamburger - welcome to BP! 

I've met a lot of solid Birmingham investors over the years. And then there are many that I haven't met that I would love to meet! You could try the 'network' function and reach out to those you'd like to get to know. 

You can also check out The Birmingham Real Estate Investor podcast and get to know investors on that show. I have spoken with people here on BP who've listened to the podcast and contacted all of the guests on the show!!

Hope that help!

Hey Brian,

We're here in Birmingham and actually manage a large number of Section 8 properties. The biggest factors in making it a successful investment is going to be the age and design of the house and then understanding your ongoing maintenance costs.

Age matters here in Birmingham and the older the home, the more renovation and ongoing maintenance will be required. Also, I mentioned design simply because if you get an odd house or a house with a White Elephant (a defect you cannot correct such as a very steep driveway, on a busy road, next to railroad tracks, funky layout, etc..), it's going to take you longer to rent the home and you might not keep that resident long term. 

Ongoing maintenance will be higher on most S8 houses because they're lived in more than a home with a working resident that is gone up to 8 hours a day.

Hope that helps - there is a Birmingham based podcast (the Birmingham real estate investor) we put out where you can hear from a lot of local investors on topics like this.

Spencer

As far as Birmingham rental investing, we’ve been there and done that! Some of it good and plenty of bad. 

We survived The Great Recession of 2007/’08 and learned a lot of lessons along the way. 

If you are interested in a local take on Birmingham rental investing, give us a listen and let us know what you think!

We have Birmingham's most seasoned investors on our podcast to share their stories of success, struggle, and what it's like to buy, sell, flip, wholesale, rent, and profit from Birmingham real estate

You can subscribe anywhere you listen to your podcasts.

Hey Caleb, 

We have interviewed thousands of people over the past six years and have just over 100 on our team.

We based our main approach on a book called Who by Geoff Smart. It is great for the phone interview (just four questions), the face to face, and then we add a cultural interview b/c culture is as important as a person's skill set. 

Before they get to the phone interview though, they take a Culture Index test to see if they have the natural wiring we are looking for in the role. So it helps for you to know exactly what you're looking for in the position. Our salesperson profile is vastly different than our property manager profile. You don't have to use Culture Index...possibly a free version of Myers Briggs or another personality profile would work. 

Those three main pieces - culture index, Who questions, and our own culture interview - have allowed us to hire incredible talent for a pretty tough industry (property management). 

Hope that helps! 

Spencer

Hey @Daniel Shafer - I don't know Bryan personally but I do know Mark (his partner) well and can attest to his passion and work ethic. He is constantly adding value to any investor interested in Chicago regardless if they choose GC or not for management. You will be pleased with the level of service and attention to your properties if you choose them to manage for you. Best of luck!